Zeev's Turnips Patch-No Politics (ZEEV)

[basserdan]

>>>Been busy buying physical silver lately (1lb bullion). What do you make of the activity on deliveries yesterday in silver futures?
http://www.nymex.com/media/delivery.pdf
Seems like a lot of contracts moving. REFCO fallout perhaps? Thanks! I still think silver is going to erupt based on the SUA's recent comments. They are lobbying hard against that Barclay's Silver ETF.<<<
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Hi LD,
116 isn't a particularly large # of deliveries and I don't think it is very relevant to the PoS at all.

Fwiw, I've seen many times that number on a given day in delivery months gone by and they always seem to find a home. <g>

How many of those deliveries, if any at all, were due to the REFCO fallout is something we will prolly never know.

I think the SUA comments, admittedly bullish, are already in the market.

What I found constructive were the changes in Wednesday's COMEX open interest figures:
Au ~ 350,670, down 12,027.
Ag ~ 136,670, down 6,037.

Are you looking at CDE again?